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Veda Partners With Mid-Atlantic BCBS Plan to Save Millions in Administrative Costs
December 1, 2022
Veda Partners With Mid-Atlantic BCBS Plan to Save Millions in Administrative Costs
After a CMS audit, this national health plan had a 43% data accuracy score. Hiring 20 people to manually fix the data would cost an additional $1 million+. The plan used Veda’s Quantym product that automates accuracy checks on provider directories to meet compliance requirements.
Results
- 97% improvement in network accuracy
- 95% average data accuracy in CMS audit fields. The accuracy threshold is guaranteed in the contract.
- Significant savings in operational cost including FTE cost avoidance, 20% reduction in direct mail and call center costs, and 10% non-par payments resolved to par providers
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